February 15, 2018

NCUA reveals amount of NCUSIF distributions

Today, the NCUA Board shared during its monthly board meeting the distribution amount credit unions will receive from the National Credit Union Share Insurance Fund (NCUSIF) this year.

Based on the NCUA's final NCUSIF audit, the equity ratio on insured shares stands at 1.46 percent – higher than the current normal operating level (NOL) of 1.39 percent. From this ratio, the NCUA has revised its distribution to credit unions this year to be $735.7 million.

The board today also announced that credit unions can expect their distributions in the third quarter of this year.

This distribution is the result of the NCUA Board vote last September to merge the Temporary Corporate Credit Union Stabilization Fund (TCCUSF) with the NCUSIF. At the same time, NCUA also elected to raise the NOL of the NCUSIF to 1.39 percent.

NAFCU was the only trade association fighting to keep the NOL at 1.3 percent so credit unions could realize the fullest distribution possible; the association continues to urge the NCUA to return the NOL to that level as soon as possible.

"The money credit unions will have returned to them belongs to their members and is critical to the products and services they offer. That is why NAFCU has consistently pushed for the NCUA to give all of the funds back to credit unions as soon as possible," said NAFCU President and CEO Dan Berger. "While we are grateful credit unions will get some money back soon, NAFCU will continue to aggressively fight for credit unions to get all their money back, not just the small portion they're due to receive."